Debt Reduction- Advice On Credit Card Debt Reduction, Debt Reduction Services, And Debt Reduction Plans

Flywheel asked:


I’ve read the economic goals of libertarians and fiscal conservatives, but it’s occurred to me that not all of the goals are mutually inclusive.

For instance, it’s possible to enact a flat tax and lower everyone’s taxes…or you could enact a flat tax and raise everyone’s taxes.

Which of these goals matter the most to you, from highest to lowest?

Debt Reduction
Flatter Taxation
Less Spending
Less Taxation
Lower Budget Deficits
Simpler Tax Code

Kelsey Hoxworth

zipper asked:


Debt reduction is neither a goods or a service, but rather a financial component of the bill.

Fransisca Milanese

First Lady asked:


My Boyfriend owes almost $5000 to a Credit Card company. After reading an article about how a guy got a reduction (not settlement with IRS involved) and paid off his credit card debt, I decided to give them a call on behalf of my Bf. Instead of getting a reduction, I got a “deal”. I got his interest rate lowered from 29.99% to 3.99% fixed for 6 months. I look at it as if it’s almost like a settlement. How good you think it is?

Johnathon Westerberg

Boyz asked:


Example: 4 personal credit card loans settled within weeks of each other with a total forgiveness of approx $45K. Insolvent (total assets less total liabilities) by $ 82K (negative) 1 day before and still insolvent by no less than $52K (negative) after any of the forgiven debts. Checked box 1b and entered $45K on line 2. What do you need to calculate for line 10a in Part 2 since the degree of insolvency is still greater than the forgiven debt before and after? What is done with the value for line 10a? Is it advantageous to have a larger value or smaller value on line 10a in relation to the amount of forgiven debt?

Ione Yammine

jazl asked:


This company is a debt reduction program. I need to know if it is in deed a legit company and not a scam. Has anyone dealt with them or knows anyone that has? They are located in Fresno, Ca

Thanks

Tonita Mcpheron

phillip k asked:


can anyone explain this statement to me: client agrees to pay a total administrative fee equal to 15% of the total debt placed with ____ regardless of the reduction of the debt amount thereafter.

Ferdinand Ravens

Ruby asked:


see Yahoo News

http://news.yahoo.com/s/ap/20080924/ap_on_bi_ge/financial_meltdown;_ylt=AriXv0DPs.lPePAQmkOC1W2s0NUE

Remember Section 6 “Maximum Amount of Authorized Purchases.

“… The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding AT ANY ONE TIME.”

Note the words “at any one time”. Will it go down essentially like this.

1. the taxpayer buys up to $xxx amount of toxic instruments at top prices to save the bankers, say $200B, leaving $500B “OUTSTANDING”
2. sell them off at fire sale prices, so there is nothing OUTSTANDING
3. begin the cycle again. Keep selling the purchased assets at fire sale prices and buying more …

and on and on and on until Wall street has eliminated all of the toxic instruments from their balance sheets?

If that is the way it works, Congress “asking” for a reduced amount is meaningless is it not?

Is that maybe why the proposed bailout legislation changes the law to increase the maximum amount of the public debt to $11.3 trillion?

“Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $11,315,000,000,000.”

What do you think? Does anyone believe the bailouts will cap off at the “maximum” amount considering the wording “AT ANY ONE TIME”? Do you think they will take it all the way until the public debt reaches the maximum $11.3 trillion regardless of whether the so-called “maximum outstanding” is $100B, $200B or $700B?

Dong Ariola

Aunt Acid asked:


GWB fought 2 wars and had disasters like Katrina.

BO IS SPENDING FOOLISHLY…

http://www.lookingfit.com/hotnews/house-rep-list-wasteful-stimulus-provisions.html

$2 billion earmark to re-start FutureGen, a near-zero emissions coal power plant in Illinois. (The Department of Energy took its funding away last year, calling the project was inefficient.)
$246 million tax break for Hollywood movie producers to buy film.
$650 million converter-box coupon program for the digital conversion.
$88 million for a new polar icebreaker (arctic ship) for the Coast Guard.
$600 million to buy hybrid vehicles for federal employees.
$400 million for the Centers for Disease Control to screen and prevent STD’s.
$1.4 billion for rural waste disposal programs.
$125 million for the Washington sewer system.
$150 million for Smithsonian museum facilities.
$1 billion for the 2010 Census, which has a projected cost overrun of $3 billion.
$75 million for “smoking cessation activities.”
$200 million for public computer centers at community colleges.
$75 million for salaries of employees at the FBI.
$25 million for tribal alcohol and substance abuse reduction.
$500 million for flood reduction projects on the Mississippi River.
$10 million to inspect canals in urban areas.
$6 billion to turn federal buildings into “green” buildings.
$500 million for state and local fire stations.
$650 million for wildland fire management on forest service lands.
$1.2 billion for “youth activities,” including youth summer job programs.
$88 million for renovating the headquarters of the Public Health Service.
$412 million for CDC buildings and property.
$500 million for building and repairing National Institutes of Health facilities in Bethesda, Maryland.
$160 million for “paid volunteers” at the Corporation for National and Community Service.
$5.5 million for “energy efficiency initiatives” at the Department of Veterans Affairs National Cemetery Administration.
$850 million for Amtrak.
$100 million for reducing the hazard of lead-based paint.
$75 million to construct a “security training” facility for State Department Security officers when they can be trained at existing facilities of other agencies.
$110 million to the Farm Service Agency to upgrade computer systems.
$200 million in funding for the lease of alternative energy vehicles for use on military installations

Amanda Erwin